Online Gaming and Lotteries Cash Cows for BCLC
Prince George, B.C.- The 2015/16 fiscal year was a very good one for the BC Lottery Corporation and the Province, but the local picture didn’t show much change.
The BCLC had net income of $1.3 billion dollars. That’s the amount the Province will receive from gaming in B.C. The amount is $97.5 million more than had been budgeted, and $59 million more than the previous fiscal year.
The increase can be credited to the growing popularity of eGaming and the huge jackpots that have been seen in some of the lotteries. Every time the jackpots go up, more tickets are sold. Lottery and online gaming generated a net revenue of just over $369 million, an increase of about $65 million from the previous year.
Gaming and casinos generated a net revenue of $944.4 million, down about $6 million from the previous fiscal year.
Locally, the overall revenue generated at the Treasure Cove Casino didn’t change much from the previous year. The Treasure Cove’s 540 slot machines generated $43.3 million, a further $2.4 million came from the gaming tables. That’s a total of $45.7 million, which was $58 thousand shy of the revenue garnered in the previous fiscal year.
The City of Prince George will get a share of the revenue to the tune of $2.598 million dollars, which is a slight decline from the amount delivered to the City in the previous year.